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Monday, April 13, 2015

Cebr predict London price adjustment

The Centre for Economics and Business Research (Cebr) have shared their thoughts on UK house prices. The CEBR predict a rise of 1.5% this year despite predicted falls of 3.6% in London.

London's adjustment dip is not expected to go on beyond 2015, with the Cebr seeing a bounce in the capitals values next year of 2.7%.

The Cebr predict an average UK rise of 2.3% in 2016.

The report's author, Nina Skero, commented: 

“Outside of London, the outlook for house prices this year has improved after a few months when the market appeared to be coming off the boil. December’s stamp duty changes, as well as rising household incomes, are lifting prices in many parts of the UK.

“In London, however, we expect prices to decline by 3.6%, driven by a significant weakening at the prime end of the market. A potential mansion tax, reduced overseas interest and hefty new stamp duty rates have hit demand for high value property.”

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